Legislative Update: JCT description of tax provisions in CARES Act

JCT description of tax provisions in CARES Act

The staff of the Joint Committee on Taxation (JCT) today released a 105-page description of the tax provisions in the “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) (Pub. L. No. 116-136) enacted March 27, 2020.

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The JCT report includes a description of the law before the CARES Act, a description of the CARES Act provision, and the effective date.  

Read the JCT description: JCX-12R-20


KPMG observation

Release of the JCT description could be helpful to taxpayers in better understanding tax provisions in the CARES Act, as well as for Treasury as it continues to implement those provisions. 

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